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Moody's changes Hidroelectrica view to negative
Moody's Investors Service said it changed the outlook on the Ba1 long-term corporate family rating and probability of default rating of Hidroelectrica SA to negative from stable.
"The change of the outlook to negative reflects our concern that Hidroelectrica's cost structure and financial profile will be adversely affected by the extraordinarily low hydrological conditions persisting since 2011, growing operating costs and the company's limited ability to renegotiate bilateral supply contracts, which will exert significant pressure on its rating," Moody's vice president, senior analyst and lead analyst for Hidroelectrica Richard Miratsky said in a news release.
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